Home Insurance NSW
Compare home and contents insurance policies from our Online Partners for homes in NSW. The results shown are sorted by Star Rating (highest to lowest), followed by provider name (alphabetical)
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The initial results in the table above are sorted by Star Rating (High-Low) , then Provider Name (Alphabetical) . Additional filters may have been applied, see top of table for details.
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What type of home insurance can I get in NSW?
Three main types of home insurance are available to homeowners in New South Wales are:
Home building insurance in NSW
Sometimes simply called home insurance, this type of cover offers protection for the cost of repairs or rebuilding the physical structure or structures that make up your home. Structures that may be covered under home building insurance can include the garage, driveways and fencing, as well as fixtures such as built-in cupboards or a hot water heater.
Contents insurance in NSW
Contents insurance is designed to protect you against theft, loss or damage to household items and personal belongings within your home. This can range from clothing, furniture and rugs through to appliances such as a fridge or washing machine.
Home and contents cover in NSW
Homeowners in NSW can choose to mix and match their cover by taking out separate home building insurance and contents cover with different insurers. However, many providers offer combined home and contents policies, which can work out to be cheaper than buying two stand-alone policies. Bear in mind that depending on your circumstances, you may not always require both home and contents insurance. For example, Moneysmart notes that if you’re a renter or living in an apartment rather than a house, you may not need to take out home building insurance.
How much does home and contents insurance cost in NSW?
The cost of home insurance in NSW tends to be higher than some other states and territories in Australia. Canstar has done the sums for a variety of suburbs and home values across NSW, and calculated the average cost for different policy types:
- Home insurance: $1,955
- Contents insurance: $484
- Combined home and contents insurance: $2,249
These average premiums are based on home and contents insurance policies rated in Canstar’s 2023 Home and Contents Insurance Awards and Star Ratings. When calculating these figures, we considered a range of addresses and building sum insured amounts, with premiums based on building sum insured amounts between $200,000 and $1,800,000, and contents sum insured for $50,000.
If you’re interested in taking out both home building and contents cover, as the average premiums above show, combining them into one policy may be one way to trim the cost. Taking out separate home and contents policies in NSW would mean paying a total annual premium of $1,898 on average. By contrast, Canstar’s data shows the cost of purchasing combined or ‘bundled’ home and contents cover with the same insurer is around $152 less on average than buying separate policies.
How do you compare home and contents insurance for NSW?
If you live in New South Wales and are looking for a new policy or considering switching providers for a better deal, you can compare home and contents insurance using the comparison table above.
When comparing home insurance, some factors to check include:
- The risks you will be covered for and any optional extras that are you can add on
- The level of cover
- The premiums charged and any discounts on offer
- The excess you will pay if you make a claim
You may also want to consider Canstar’s Home and Contents Insurance Awards and Star Ratings, in which we recognise providers who offer value for money to Australian customers.
How to save on home insurance in NSW
Insuring your home doesn’t always come cheap, but premiums can vary widely from one insurer to another and so shopping around and comparing a range of policies and providers can help you save. Discounts on home insurance may be available if you organise and pay for cover online or take out combined home and contents insurance.
That said, the cost of cover shouldn’t be the only factor you consider. Just as premiums vary, so too can the level of cover. This makes it important to read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) from your insurer to understand what you are covered for, how much cover you have, and any items that may be excluded.
It may also be possible to reduce the premiums on home insurance in NSW by making your home more secure. For example, some providers may give you a discount on premiums if you install window locks or other security devices such as a burglar alarm or home security system. Opting for a higher excess may also lower your premiums – just be sure you can pay the excess if you ever need to make a claim.
Frequently Asked Questions about NSW Home Insurance
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Canstar Star Ratings and Awards
Looking for an award-winning product or to switch providers or brands? Canstar rates products based on price and features in our Star Ratings and Awards. Our expert Research team shares insights about which products offer 5-Star value and which providers offer outstanding value overall. We also reveal which providers have the most satisfied customers in our dedicated Customer Satisfaction Awards.
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About the authors
Nina Rinella, Editor-in-Chief
Joshua Sale, Group Manager, Research & Ratings
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Important information
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This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.